2006 was the first year of issue for this popular gold coin series. This coin holds the unique distinction of being the first ever gold coin minted by the United States mint in pure 24-karat gold. This coin has been hand signed by Kenneth Bressett, who has been the editor of the Official Red Book since 1962. Mr. Bressett is one of the most famous numismatic researchers and writers of all time having published numerous books and articles.

Production of 24-karat American Buffalo Gold Coins was authorized by Public Law 109-145, dated December 22, 2005, sponsored by Honorable Michael Castle, the Coinage Congressman. The American Buffalo Gold Coin's obverse and reverse designs feature images by noted American sculptor James Earle Fraser, once a student of Augustus Saint-Gaudens, for America's five-cent coin.

The Native American depiction on the coins obverse is believed to be based on three different American Indians. Two of the American Indians who modeled for Fraser as he sculpted the coin were named by the designer before his death. They were Chief Iron Tail of the Lakota Sioux and Chief Two Moons of the Cheyenne. Although many have claimed to have had a sitting with Fraser for this design, he could not recall the name of the third person, and satisfactory documentation has not yet been found to identify that individual. It is widely believed that the bison on the coin's reverse was modeled after Black Diamond, a popular attraction at the New York Zoological Gardens.